E-newsletter 6/20/12 news jumps and exclusives for Friends of Store Front in Syracuse and beyond

Greetings! You're receiving this weekly e-newsletter because you are one of the select few thousand Friends of Store Front who said "yes" to an exclusive dose of retail buzz. Store Front, an offbeat look wired into the national, regional and local retail scenes, was created by The Post-Standard's Bob Niedt in 1993. The e-newsletter gives Friends e-alerts on upcoming retail news in The P-S version of Store Front (Sundays and Fridays) plus stories selected exclusively for the newsletter. Enjoy! And pass it along

Store Front news jump: You get it first, before others read it in The P-S and Syracuse.com. ... A major complaint about the expansion of Carousel Center mall visually was the drab look. You were told that would change as the expansion, called Destiny USA, started getting closer to opening. It is. From prison-drab, it evolved with a new paint job and a second three-story glass curtain-wall exterior entrance. Now take a look at the first of 13 architectural features going onto that exterior. The plaster-on-steel pushouts will give more depth to the the look of the Hiawatha side. The first is up, next to that glass curtain toward the J.C. Penney side of the expansion. Others will go where the building makes turns. Store signage and more will go on the features. The Saks Fifth Avenue Off 5th sign is going on it this morning. ... Speaking of which, as you're reading this, some of y'all are getting ready for a private shopping experience at Carousel Center-Destiny USA's new Saks Fifth Avenue Off 5th luxury outlet store from 6 p.m. to 9 p.m. today. If you're not, you weren't invited. Sorry. The invitation-only Private Party Preview lets those lucky ducks shop first, before the store opens Thursday at 10 a.m. Off 5th? Huh? As they say, "Saks Off 5th offers hundreds of designer brands at up to 70 percent off traditional retail prices. Luxury lines created by celebrities like Rachel Zoe, Derek Lam, Carolina Herrara and Elie Tahari are featured." They were merching the store earlier in the week. ... And? Check out work on Destiny's futuristic-looking pedestrian walkway. ... The Florida-based restaurant chain Beef O'Brady's is again making noise about entering the Central New York market. We've heard this one before. They may just be still fishing for franchisees, much as Golden Corral constantly does. ... You missed this one, eh? It opened last year, but some of ya are asking. Cosmo's Cafe is at 5858 E. Molloy Road, which some of you may remember as the Pickard. Cosmos Bombardo's place is open for breakfast and lunch (7 a.m. until 2:30 p.m.) and offers among its specialties frittatas, cheesesteaks, wings and deli sandwiches. ... Creekside Books has now officially paired with Creekside Coffee. Wanna party with them to celebrate? Head over to Creekside Books in Skaneateles June 30. They're showing off from 1 p.m. until 4 p.m. ...

Plano, Texas -- In an announcement that caught the retail industry by surprise, J.C. Penney Co. said that Michael Francis will be leaving the company, effective June 18. Chief executive Ron Johnson will assume direct responsibility and oversight of the company's marketing and merchandising functions.

Francis became president of J.C. Penney on Oct. 4. His appointment was seen as the handiwork of then-incoming CEO Johnson, who is himself a former Target executive. No reason was given for Francis’ departure. In a statement, Johnson said: "We thank Michael for his hard work at J.C. Penney and wish him the best in his future endeavors."

Johnson lured Francis away from Target, where he served as chief marketing officer, and was credited with enhancing the retailer's fun and hip image. At J.C. Penney, he was responsible for all merchandising, marketing, planning and allocation, and product development and sourcing functions. In announcing the appointment, Johnson said Francis had the vision "to reimagine the department store experience.”

Francis is the first top executive to leave since Johnson took charge of J.C. Penney last year.

J.C. Penney is in the midst of a vast transformation, which is being led by Johnson. The company reported a $163 million first-quarter loss and has recently been backing off on its new pricing strategy, bringing back some promotions. Shares of J.C. Penney fell nearly 6% in after-hours trading Monday on the news of Francis' departure.

My comments: The Great Experiment at a storied retailer just may be its undoing. Or the Greatest Thing That Ever happened to "Penney's," as my mother calls it.

And that's just the deal: Mom shops there. Johnson's redo and remake was designed to get other age sets in there, and frequently. But what it may have done was scare off the loyal and make the occasional, bargain-hunting shoppers shrug -- or just be confused.

The problem? People want bargains. They want to see bargains. I was skeptical of this Every Day Low Price -- or EDLP, as the industy calls it -- plan. I believe it feels more like a hunt, a bargain hunt, when we cart coupons into the store and see prices drop. Just ask DSW or the dozens and dozens of other chains who employ bargain days and coupons to get shoppers through the door.

Johnson, the wunderkind from Apple, has to know Penney is no Apple; there's really not, in my estimation, the same kind of feverish, cult-like brand loyalty to Penney that Apple enjoys. I just don't think Johnson can create that out of whole cloth for a retailer that is old enough to be Apple's great-great-grandpappy.

But it takes time to turn a creaky ocean liner. I just don't know whether stockholders can give him the time he wants or needs.